Former state school employee Gale paid in $33K to teachers' pension fund, could collect $700K in retirement

By Local Labs News Service

Jul 1, 2018

Former state school employee Sue Gale, who retired in June 2018, saved $33,299 toward a pension over 15 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Gale would collect as much as $700,460, according to a projection by Local Government Information Services (LGIS), which publishes Lake County Gazette.

The projection assumes Gale received $14,723 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Gale will have already received $45,508 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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Lake Bluff Elementary School District 65

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